21 Nov 2013
USD/JPY blocked at 100.27 highs
FXstreet.com (Chicago) - USD/JPY continues struggling to break above the 100.20 zone and yet prints higher highs and lows for a 0.19% advancement so far.
Data, perspective
Price action reveals the pair finds many asks at the 100.25 zone reacting to foreign investment data. At 349.9B, foreign bond investment decreased compared to previous results at 357.8B yen. Foreign investment in Japanese stocks was 1294.9B vs. prior 274.5B evidencing a strong take of confidence. According to Jim Langlands from FXcharts “the release of the FOMC Minutes has told us nothing new and there is no change in US$/Jpy which will now wait for the BOJ before we see any action.”
USD/JPY Technical Levels
Technically speaking, the pair is offered at 100.17 and oscillates between the supports aligned at 99.78 (November 12th highs), 99.36 (November 7th highs) ahead of 98.90 (November 10th lows) and the resistances aligned at 100.43 (November 15th highs), 100.87 (July 18th highs) followed by 101.60 (July 8th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.
Data, perspective
Price action reveals the pair finds many asks at the 100.25 zone reacting to foreign investment data. At 349.9B, foreign bond investment decreased compared to previous results at 357.8B yen. Foreign investment in Japanese stocks was 1294.9B vs. prior 274.5B evidencing a strong take of confidence. According to Jim Langlands from FXcharts “the release of the FOMC Minutes has told us nothing new and there is no change in US$/Jpy which will now wait for the BOJ before we see any action.”
USD/JPY Technical Levels
Technically speaking, the pair is offered at 100.17 and oscillates between the supports aligned at 99.78 (November 12th highs), 99.36 (November 7th highs) ahead of 98.90 (November 10th lows) and the resistances aligned at 100.43 (November 15th highs), 100.87 (July 18th highs) followed by 101.60 (July 8th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.